ah yes I see what happened, those nvENC errors were before I did a clean install of the current nv drivers.
after the driver reinstall, 720/1080 transcoding seems to be working consistently fine.
note the section after the edit.
its only decoding 4k/hdr that fails.
edit: good news and bad news
the good news is, with the current Plex-Media-Server-1.14.1.5488-cc260c476 release, 4k hdr > 720 works HW to HW
so the bad news is, it wasn’t working on this thread alpha release 1.15.0.573